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The Psychopathology of Walrasian Marxism

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  • Freeman, Alan

Abstract

This text comprises chapter 1 of Marx and non-equilibrium Economics[1]. It specifies a non-equilibrium (temporal) interpretation of Marx’s theory of value which demonstrates a fully consistent transformation of values into prices and reproduces Marx’s tendential law of the falling profit rate. It seeks to explain why this approach to value is inaccessible to consciousness under present social relations, and why resistance to its acceptance has been particularly strong among Marxists. [1] Freeman, A. (1996b) ‘The psychopathology of Walrasian Marxism’, in Freeman, A.. and Carchedi, G. (eds) (1996), Marx and Non-Equilibrium Economics, pp1-29. Cheltenham: Edward Elgar. ISBN 1 85898 268 5.

Suggested Citation

  • Freeman, Alan, 1996. "The Psychopathology of Walrasian Marxism," MPRA Paper 1539, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:1539
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    References listed on IDEAS

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    1. Michael A. Lebowitz, 1992. "Beyond Political Economy," Palgrave Macmillan Books, in: Beyond Capital, chapter 8, pages 141-157, Palgrave Macmillan.
    2. Michele I. Naples, 1985. "Dynamic Adjustment and Long-Run Inflation in a Marxian Model," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 8(1), pages 97-112, September.
    3. Harcourt,G. C., 2022. "Some Cambridge Controversies in the Theory of Capital," Cambridge Books, Cambridge University Press, number 9781009158152, September.
    4. Baumol, William J, 1974. "The Transformation of Values: What Marx "Really" Meant (An Interpretation)," Journal of Economic Literature, American Economic Association, vol. 12(1), pages 51-62, March.
    5. Philip Arestis, 1992. "The Post-Keynesian Approach to Economics," Books, Edward Elgar Publishing, number 16.
    6. Bowles, Samuel, 1985. "The Production Process in a Competitive Economy: Walrasian, Neo-Hobbesian, and Marxian Models," American Economic Review, American Economic Association, vol. 75(1), pages 16-36, March.
    7. Glick, Mark & Ehrbar, Hans G, 1987. "The Transformation Problem: An Obituary," Australian Economic Papers, Wiley Blackwell, vol. 26(49), pages 294-317, December.
    8. Hodgson, Geoff M, 1981. "Money and the Sraffa System," Australian Economic Papers, Wiley Blackwell, vol. 20(36), pages 83-95, June.
    9. José Alberro & Joseph Persky & José Alberro & Joseph Persky, 1981. "The Dynamics of Fixed Capital Revaluation and Scrapping," Review of Radical Political Economics, Union for Radical Political Economics, vol. 13(2), pages 32-37, July.
    10. M. C. Howard & J. E. King, 1987. "Friedrich Engels and the Prize Essay Competition in the Marxian Theory of Value," History of Political Economy, Duke University Press, vol. 19(4), pages 571-589, Winter.
    11. Richard D. Wolff & Antonino Callari & Bruce Roberts, 1984. "A Marxian Alternative to the Traditional "Transformation Problem"," Review of Radical Political Economics, Union for Radical Political Economics, vol. 16(2-3), pages 115-135, June.
    12. Morgenstern, Oskar, 1972. "Thirteen Critical Points in Contemporary Economic Theory: An Interpretation," Journal of Economic Literature, American Economic Association, vol. 10(4), pages 1163-1189, December.
    13. Duncan K. Foley, 1982. "The Value of Money the Value of Labor Power and the Marxian Transformation Problem," Review of Radical Political Economics, Union for Radical Political Economics, vol. 14(2), pages 37-47, June.
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    Cited by:

    1. Andrew Kliman & Ted McGlone, 1999. "A Temporal Single-system Interpretation of Marx's Value Theory," Review of Political Economy, Taylor & Francis Journals, vol. 11(1), pages 33-59.
    2. Fabio petri, 2012. "On recent reformulations of the labour theory of value," Department of Economics University of Siena 643, Department of Economics, University of Siena.
    3. Freeman, Alan, 1997. "If they're so rich, why ain't they smart? Another prelude to the critique of economic theory," MPRA Paper 52699, University Library of Munich, Germany, revised 04 Feb 2013.

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    More about this item

    Keywords

    Temporalism; TSSI; Value; Marx; rate of profit; transformation; non-equilibrium; Walras;
    All these keywords.

    JEL classification:

    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
    • B5 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches
    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian
    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Wicksellian)
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology

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